Challenge
- The customer had thousands of vendors, leading to a volume of assessments.
- Had outsourced assessments to a provider in an eastern European country.
- The customer was not satisfied with the existing service provider for multiple factors like scalability, availability.
- The customer had frequent policy changes, needed scalability, and faster turn around.
Solution
- ComplyScore proposed and provided the professional managed services engagement.
- ComplyScore took the knowledge transfer from the existing service provider within a few weeks of time.
- ComplyScore was up to speed with its robust assessment processes of assessments and best practices.
- The managed services included the online assessments professional solution which was leveraged for the assessments.
- ComplyScore also provided Vendor CyberScore to continuously monitor the vendor risk profile.
Results
- ComplyScore offerings- managed services, CyberScore, and the solution was a complete package.
- Provided assessments with faster turnaround and scalability to thousands of vendors
- Helped customers manage the third party risk within budget and without any hassles or overheads.
- ComplyScore helped improve the overall health of the third-party risk posture.
- The customer was able to continuously monitor and be proactive in managing third party risks.
